Domain Backordering is a service provided by domain registrars in which a person can attempt to acquire an already registered domain name when it becomes available for registration by pre-ordering it.
It increases your chances of acquiring that particular domain name but in no way, guarantees success.
As a matter of fact, over 750,000 domains expire every single month and over thousands of domain every single day. Since an already existing domain has a set of traffic associated with it, they are highly valuable in the market.
DOMAIN EXPIRATION
Whenever you register a domain, there is a specific period of time for which you register it. The time period may vary from 1-year to 10-years. Now before the time period lapses, you need to renew your ownership for the domain, failing which, your domain is said to be expired. And that is when domain backorder comes into play.
Once a domain expires, there may be thousands of people up for grabbing a particular name and within no time, you may find that your domain is already registered for the next span of time by someone else. Now you are left with 2 options-
1- Wait for the domain to expire again which may take years of time.
2- Pay excessive amount of money to the owner for acquiring the domain.
While one leads to excessive loss of time, the other may lead to excessive loss of money. To avoid both of these problems, the best way is to backorder the domain.
ADVANTAGES OF DOMAIN BACKORDERING
1- It is an extremely fast process. When compared to doing it manually, it is always better to backorder.
2- It saves a lot of time. You can place multiple backorders and simply wait for the results without having to monitor it manually on a daily basis.
3- The process is highly reliable and secure if carried out with the correct domain registrars. With some registrars, you may never get the domains that you pre-ordered. They set it up for auctions as soon as it becomes available without having considered the backorders.
4- The process is similar to buying a domain. So, it is extremely easy.
5- You only pay when your backorder is executed, i.e., only when the company acquires the domain for you should you pay for it. This may differ from registrar to registrar.
6- Some of the registrars only accept one backorder for each domain. Hence if you backorder a domain with them, chances are bright for you to acquire it. This is not the case with all the domain registrars.
WHAT IF MORE THAN ONE BACKORDERS ARE PLACED FOR A DOMAIN??
If a domain registrar facilitates more than one backorder for the same domain, then it may be possible that more than one person has backordered the same domain. In case the registrar acquires the domain, it is listed for auction among those who backordered it.
For example, if a domain name, say ExtremeTechie.com, has been backordered by 3 persons, say X, Y and Z with the same registrar.
If the registrar acquires the domain on its expiration, the domain is put to auction where only these 3 members who backordered the domain, may participate in the auction. The person who places the maximum bid in the auction for that domain is declared as the winner and he pays the bid price to the registrar to acquire it.
Now that you know what backordering is, why wait?? You may start to backorder the domain which you want to acquire, either for personal use like hosting website, or simply flip it for a more profitable venture.
WARNING: Not all domains can be backordered; may be due to the HOLD status on the domain as a result of trademark infringement issues, or due to the fact that the registrant might renew the domain before they are removed from the owners right.
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